Overseas Shipping Group (OSG) is showing impressive strength and call volume is picking up Wednesday. Shipping stocks (DRYS, EGLE, TBSI, DSX, GNK, EXM, NAT) are seeing mixed trading, but OSG is up $3.94 to $39.40. June 40, July 40, and July 45 calls are the most actives. Looks like speculative call buyers driving a lot of the action and looking for OSG to continue its recent running higher over the next few days and weeks. Implied vols are little changed at 63 percent.